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Investing in Fixer-Upper Houses

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Why You Should Invest in Fixer Upper Houses

If you are thinking about investing in real estate, I would like to suggest that you buy fixer-upper houses and rent them out.

I first began investing in 2002 when the economy was spiraling downward and my job was looking as shaky as the economy. My first purchase was a house repossessed by the VA. I rented out the house I had been living in and moved my family into the new house. We lived in it while we made repairs. Since then, I have focused on houses repossessed by banks, the VA, and HUD.

Since I began, my financial situation has improved dramatically. Now I have a steady flow of cash coming in each month, and the amount of equity I have in my houses is more than my wife and I ever imagined that we would have. If I lost my job now, it wouldn't be the end of the world. We could still get by pretty well on our real estate business alone.

In addition, we had never socked away much money into retirement accounts, but the money we have built up in our houses more than makes up for it (and is more secure than it would have been in stocks).

I encourage you to learn the skills necessary to start on the road to financial security. From my point of view, these skills include learning to: 1) purchase fix-up properties, 2) do your own repairs, 3) manage tenants. It takes time and effort, but like all good things, it is worth the effort. The more things you can learn to do yourself, without outside help, the better off you are. You will develop skills that will serve you well the rest of your life.

As Thomas Edison said, "Opportunity is missed by most people because it is dressed in overalls and looks like work."

Terry's "Fix em Up Rent em Out" Book on Amazon

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View Terry's Investment Articles at Ezinearticles.com

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Instead selling you residence to purchase another home, a wiser option may be to turn it into a rental property.
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Two ways to learn repair skills are: 1) reflect on past experiences and on persons who were good examples, and 2) put together your own repair book reference library.
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Terry Sprouse buys fixer-upper houses, repairs them and rents them out, in his spare time.

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